European Consumer Payment Report 2024

The European Consumer Payment Report 2024 is based on insights from 20,000 consumers across 20 European countries. It provides an overview of consumers' ability to pay bills on time and highlights evolving attitudes towards financial commitments. This report was released in November 2024.

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Most consumers meet their monthly commitments

Europeans today have higher confidence in their ability to meet their financial commitments than has been the case for years, with 74 % of Europeans stating they can meet all their financial commitments on time, highest sine 2019. However, a growing number (37%) are relying on credit to cover essential costs, and the same proportion (37%) may need to rely short-term borrowing to cover an unexpected cost €200 or more.

Young adults face new challenges and temptations

The ECPR 2024 reports a generational divide, with only 69% of millennials paying bills on time, compared to 83% of baby boomers. Younger consumers face greater challenges, including heightened concerns about job security, as many fear job loss to automation and AI. Additionally, social media and online shopping have encouraged overspending, particularly among younger demographics.

Europeans are beginning to embrace AI

Europeans show cautious acceptance of AI in finance, with 25% of consumers feeling more comfortable negotiating payments with AI due to its impartiality, which reduces judgement and embarrassment. While AI’s objective approach is viewed as beneficial, particularly in debt management, significant privacy concerns persist, as many are worried about data security and AI’s lack of empathy in sensitive financial decisions.

Senior Economist comments:

"Amidst ongoing uncertainty around the strength of the economic recovery, we’re all wondering: Are consumers becoming more confident in their financial wellbeing? The answer, perhaps frustratingly, is “it depends.” While Europeans may benefit from these recent positive trends, especially robust labour markets and finally increasing real incomes, it’s too soon to say the era of high costs and uncertainty is fully behind us" says Anna Zabrodszka-Averianov, Senior Economist at Intrum.

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Download the ECPR 2024

Other editions of the report

White Paper 2024: Striving for a brighter future

Published in March 2024, new data indicate a positive development since the 2023 ECPR findings, as some consumers feel that their household finances are improving. Many do, however, remain extremely worried about how they will make ends meet.

European Consumer Payment Report 2023

The European Consumer Payment Report 2023 provides an in-depth analysis of the financial challenges faced by consumers amidst an ongoing economic downturn. With insights drawn from 20,000 respondents across Europe, this report highlights critical shifts in consumer attitudes towards payment behaviours and the increasing need for improved financial literacy.

CEO Point of View 2023: Turning Europe's payments crisis into customer trust

Our President and CEO, Andrés Rubio, comments on the fresh results of consumer payment trends. The POV was released in September 2023, serving as a precursor to the full ECPR 2023, set to be published in November.

European Consumer Payment Report 2022

The European Consumer Payment Report 2022 reveals a concerning decline in consumer confidence as inflation and rising interest rates create widespread anxiety regarding financial stability. This report highlights the challenges faced by households, the impact of the ongoing cost-of-living crisis, and the urgent need for improved financial literacy.

European Consumer Payment Report 2021

The European Consumer Payment Report 2021 examines the financial realities of consumers following the disruption caused by the Covid-19 pandemic. The report reveals how rising inflation and evolving consumer behaviours are shaping financial wellbeing across Europe, highlighting the urgent need for improved financial education and sustainability practices among businesses.

European Consumer Payment Report 2020

The European Consumer Payment Report 2020 delves into the financial challenges faced by consumers amid the Covid-19 pandemic. This report highlights the significant impacts on household income, the increasing reliance on borrowing, and the growing need for financial literacy as consumers navigate an uncertain economic landscape.

White Paper 2020: Special edition Covid-19

Based on a pulse survey conducted already in May 2020, this edition reveals how the pandemic has disrupted household incomes, increased debt levels, and shaped new financial realities across 24 European countries.

Contact person

Kristin Andersson

Global External Communications Director

kristin.andersson@intrum.com